LOONY TUNES no. 166

One of the biggest reasons why economic events such as hyperinflation are so devastating is because they occur in a flash, and usually beyond the reach of governments and central banks to be able to stop them. And in a nutshell, the invisible hand of market forces will always outdo anything man can construct to oppose them, just as nature will always win out over technology in the long run.

“…As study after study shows, a government that protects personal property also promotes prosperity. In a free market, people produce and trade value for value. If they don’t want to buy something, they don’t, until the price is right. If the price is never right, the seller finds something else he can do that society values enough to buy. In so doing, the “invisible hand” helps everybody stay relevant as a contributor to society. …”